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First, your first sentence isn't strictly accurate.They literally do not meet the definition of an independent contractor lol...you cannot tell them where to be at what time to do a job.
Student athletes should be employees, but they are not. And the reason they are not is that once they become them, they break the entire economics of college athletics.
So do you want to continue to watch CFB? Then you best hope nothing changes where they are in this nebulous definition of student athlete who is "definitely not" an employee for legal purposes.
Second, you can do all the legal or logistical backflips you want, I don't care if they don't fall into the technical definition of anything. You are talking about what the IRS considers an independent contractor vs employee. Who cares. The economics of it are they are getting paid to play. You can't deny that but if you insist, go right ahead. I'm not interested.